The protection-and-indemnity (P&I) clubs are undaunted by a review into insurance pools and the sharing of statistics launched by the European Commission (EC).
Although the 13 P&I clubs in the International Group operate one of the most extensive claims pools, co-operate closely and have a price-fixing agreement, they are hopeful the review will not lead to a back-door antitrust probe.
The EC is inviting comments on the working of the insurance block-exemption regulation (IBER) and whether this “exceptional legal instrument” should be renewed.
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